IAC Shutters Hatch Labs

Investment halted roughly three weeks ago

IAC has shut down Hatch Labs, its startup incubator aimed at developing mobile apps and technology.

According to a company spokesperson, the Hatch business, the result of a partnership between IAC and Xtreme Labs, was closed about three weeks ago. IAC is exploring options for the company's remaining assets.

"After exploring several strategic options for Hatch Labs, IAC stopped investing in the company, and their operations were subsequently discontinued," said a company spokesperson. "IAC is still funding and exploring options for a few of the assets that came out of Hatch Labs."